Responsible lender, Creditspring, has provided £500 million in affordable short-term loans to borrowers since launch.

During Q1 2025, Creditspring members borrowed £58.8 million as demand for financial support continues – compared to £44.7 million last year. In total, Creditspring has provided over 1.1 million borrowers with affordable credit since launch.

Creditspring’s Netflix-style subscription finance model offers access to no-interest loans with clear repayment terms, capped total costs and no hidden charges, late fees, confusing interest rates or risk of debt spirals.

In 2024, Creditspring provided £207 million in affordable loans - an increase of 63% compared to the £127 million lent to members in 2023.

Despite inflation easing, demand for affordable short-term credit options remains high. Research from Creditspring shows that 7.6 million UK adults – 15% of the population – will need to borrow to get by over the next six months*.

However, over a third (35%) of people say they wouldn’t know where to turn to get short-term, low-cost loans at an affordable rate. This lack of access to affordable credit options risks driving borrowers towards expensive options or even illegal lending as they struggle to make ends meet. 

Borrowers are also calling for more transparency from financial providers – almost six in ten (56%) say lenders make terms and conditions deliberately difficult to understand.

Neil Kadagathur, CEO and Co-Founder at Creditspring, comments: “There is huge appetite for affordable, transparent and simple solutions that offer access to short-term when borrowers need it without putting their future financial stability at risk.

“Demand for financial support is only going to increase over the next few months as households struggle with the impact of rising costs such as energy bills, council tax and TV licences. Without access to affordable, short-term credit millions of households will be faced with little alternative but to turn to predatory lenders.

“Creditspring’s transparent and inclusive solution improves access to affordable credit options and continues to provide a lifeline for millions of people across the UK.”

Creditspring’s Benefits Finder helps ensure users have access to all the available financial support they may be entitled to but have yet to claim by identifying benefits they maybe be eligible for. Since launch in Q4 2023, the tool has located £2.1 billion in additional financial support. On average, the tool has found that individuals could be entitled to £982 per month in additional financial support. 

Creditspring’s innovative model offers an FCA-regulated credit subscription service that responsibly offers short-term, affordable credit to borrowers. Members pay a fixed membership fee every month to allow them to access two no-interest loans per year with clear repayment terms, capped total costs and no hidden charges, late fees, confusing interest rates or risk of debt spirals.